Public Employees Retirement Association of Colorado raised its stake in Devon Energy Corp (NYSE:DVN) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,077 shares of the energy company’s stock after acquiring an additional 3,350 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Devon Energy were worth $3,936,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Sterneck Capital Management LLC lifted its holdings in shares of Devon Energy by 4.5% in the second quarter. Sterneck Capital Management LLC now owns 6,518 shares of the energy company’s stock worth $208,000 after acquiring an additional 283 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Devon Energy by 4.5% in the third quarter. Private Advisor Group LLC now owns 29,484 shares of the energy company’s stock worth $1,059,000 after acquiring an additional 1,273 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Devon Energy by 8.1% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 17,658 shares of the energy company’s stock worth $648,000 after acquiring an additional 1,329 shares during the last quarter. Fernwood Investment Management LLC lifted its holdings in shares of Devon Energy by 17.2% in the third quarter. Fernwood Investment Management LLC now owns 9,200 shares of the energy company’s stock worth $338,000 after acquiring an additional 1,350 shares during the last quarter. Finally, Westbourne Investment Advisors Inc. lifted its holdings in shares of Devon Energy by 13.0% in the third quarter. Westbourne Investment Advisors Inc. now owns 13,025 shares of the energy company’s stock worth $478,000 after acquiring an additional 1,500 shares during the last quarter. 77.75% of the stock is owned by hedge funds and other institutional investors.
DVN has been the subject of a number of research reports. Stephens raised shares of Devon Energy from an “equal weight” rating to an “overweight” rating and set a $53.00 target price for the company in a report on Thursday, November 2nd. Royal Bank of Canada set a $47.00 target price on shares of Devon Energy and gave the stock a “buy” rating in a report on Wednesday, December 20th. KLR Group cut shares of Devon Energy from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a report on Tuesday, January 23rd. Wolfe Research raised Devon Energy from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 30th. Finally, Barclays upped their price objective on Devon Energy from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, November 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $47.72.
Shares of Devon Energy Corp (NYSE DVN) opened at $34.68 on Friday. The firm has a market cap of $18,207.00, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 1.68 and a beta of 2.10. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.87. Devon Energy Corp has a 52-week low of $28.79 and a 52-week high of $47.25.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Wednesday, March 14th. Devon Energy’s dividend payout ratio is presently 8.19%.
In other Devon Energy news, EVP Lyndon C. Taylor sold 12,798 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $38.29, for a total transaction of $490,035.42. Following the completion of the sale, the executive vice president now owns 67,900 shares of the company’s stock, valued at approximately $2,599,891. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.51% of the company’s stock.
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Devon Energy Company Profile
Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
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